Billionaires Who Live Frugally

Billionaires who could spend millions on themselves and not feel a pinch choose to lead a simple life. The reasons could be many, ranging from habit to philosophy. They are an example for all of us. Most ordinary people love to show off branded bags and large houses, and are living in debt. And here are some multi-millionaires who chose a frugal style.

Azim Premji

Net worth (2016): $16.5 billion

Azim Premji is famous for his frugal lifestyle. He is known to fly economy class and stay in budget hotels. He drove a Ford Escort for many years before upgrading to a Toyota Corolla!

Narayana Murthy

Net worth (2016): $2 billion

He still lives in the same house he lived in when he started Infosys. He used to stay in Infosys guesthouses while traveling, like his employees. He comes across as a common man — his clothes are ordinary, his lifestyle simple.

Warren Buffett

Net worth (2016): $60 billion

He lives in the same house he bought decades ago and eats at Burger King. He said at an annual shareholders meeting: "I don't think standard of living equates with cost of living beyond a certain point. Good housing, good health, good food, good transport. There's a point you start getting inverse correlation between wealth and quality of life. My life couldn't be happier. In fact, it'd be worse if I had six or eight houses. So, I have everything I need to have, and I don't need any more because it doesn't make a difference after a point. When you get to 10 times or 100 times or 1,000 times, it doesn't make a difference in quality of life."

Carlos Slim Helu

Net worth (2016): $23.5 billion

The richest man in Mexico drives his old Mercedes Benz and has lived in the same house for forty years. The son of a Lebanese immigrant, he still keeps the ledgers in which his father made him note down his management of his weekly five-pesos pocket money. He still prefers paper and pen, does not use a computer, and insists that advisers confine their briefings to one sheet of paper.

Mark Zuckerberg

Net worth (2016): $42.8 billion

The Facebook founder is known for his simple lifestyle — the famous T-shirt, hoodie, and jeans uniform every day.

"I really want to clear my life to make it so that I have to make as few decisions as possible about anything except how to best serve this community," Zuckerberg said.

One of the lessons to be learnt here is to live within — and under — your means. There is absolutely no need to show off, especially when means are limited. People who lead a debt-free life sleep peacefully.

(Net-worth figures are as of early 2016.)